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WindEurope has responded to the recent pause of the Hornsea 4 offshore wind project, calling it a clear signal of the challenges facing the sector in bringing large-scale projects to completion. The organization emphasized that rising costs between the time of auction bidding and equipment procurement must be addressed through fully indexed auction systems that reflect real market conditions.
According to WindEurope, investors behind offshore wind projects prioritize long-term value over fast timelines. While governments understandably want immediate progress and high volumes of new capacity, the industry’s ability to deliver hinges on ensuring project value is viable. Without that, deployment targets will remain out of reach.
The organization noted that only last month, the wind sector proposed a “new deal” for offshore wind. This framework encourages governments to commit to three key principles: value, visibility, and volumes. In return, the industry will commit to delivering the required capacity, scaling up deployment, and driving down electricity costs for consumers.
WindEurope reiterated that if governments ensure the right conditions are in place to protect project value, the industry will be able to deliver the scale needed to meet Europe’s energy and climate goals.
